Russian estimated GDP growth rate will be 3.5-4.4% in 2003

According to the estimate of the Russian Ministry of Economic Developmentand Trade, the Russian GDP growth rate will be 3.5-4.4 percent in 2003,Deputy Economy Minister Arkady Dvorkovich reported at the scientific andpractical conference dedicated to the consideration of the major parametersof the 2003 federal budget. The Deputy Economy Minister pointed out inJanuary-July 2002 the GDP growth rate had been 4 percent, and before theend of this year this growth rate would persist. The growth of investmentswill be 7.5 percent in 2003 as compared to the volume of this year,according to the Economy Ministry's forecast, while the figure that will beposted at the end of this year is 4.5 percent, Dvorkovich pointed out.Additionally, the minister was quoted as saying in 2002 the net capitaloutflow diminished to $9bn, while in 2001 this figure was $16bn. .

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